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Meta Platforms Expands AI Ads, Apple Boosts iPhone Shipments, and More Highlights

Fernanda T
Latest News
May 08 2024 8:27AM

Meta Platforms (NASDAQ:META) – Meta announced the expansion of its AI-generated ad products, enabling the automatic creation of image variations and text overlay. The tool, currently in testing, aims to simplify campaign creation but faces concerns about third-party use of intellectual property.

Apple (NASDAQ:AAPL) – Chinese shipments of iPhones increased by 12% in March, following price reductions by Apple Inc. and its retailers, according to official data. This boost contrasts with a previous 37% drop in the early months of 2024, reflecting the company’s efforts to stabilize sales. Additionally, on Tuesday, Apple launched its latest iPad Air and iPad Pro with an AI focus, aiming to catch up with rivals in the tech race. The tablet features the new M4 chip, equipped with a “neural engine” for AI computing. Prices start at $1,000. The company seeks to showcase its AI capabilities at the upcoming developers’ conference. In other news, the National Labor Relations Board ruled that a manager at an Apple retail store in Manhattan violated U.S. labor law by questioning an employee about their support for a union campaign. The decision also confirmed that Apple illegally banned the distribution of union flyers.

Microsoft (NASDAQ:MSFT) – After Chinese hackers breached thousands of emails from the U.S. State Department via Microsoft, security measures were strengthened, increasing system protection from 5% to 95%. Although Microsoft blocked the hackers’ access, the vulnerability of Office 365 was exposed. In response, Microsoft implemented a generative AI model, GPT-4, in an isolated cloud for U.S. intelligence agencies, advancing the use of AI in high-security applications. Meanwhile, the company is closing game studios to invest more in the Xbox game portfolio. It also faces accusations of anti-competitive practices by Spanish startups and closed the engineering section of its development center in Nigeria, opened two years ago, retaining only the Nairobi center.

Intel (NASDAQ:INTC), Qualcomm (NASDAQ:QCOM) – The U.S. revoked export licenses for Intel and Qualcomm to send chips to Huawei. The move follows criticism after the release of Huawei’s MateBook X Pro laptop featuring Intel’s Core Ultra 9 processor. The action aims to enhance national security and restrict Chinese technological advancement.

Alphabet (NASDAQ:GOOGL) – Eric Schmidt, former CEO of Google, admitted he considered acquiring TikTok but abandoned the idea. He advocates for regulating the app in the U.S., viewing it as a medium of communication, urging regulation similar to television. In other news, Google launched the Pixel 8a for $499, featuring an improved display and AI features, aiming to attract budget-conscious buyers. Additionally, it also reduced the price of the Pixel Tablet. The move seeks to increase competitiveness in phones and tablets, while Pixel devices are now manufactured in Vietnam.

Amazon (NASDAQ:AMZN) – On Tuesday, Amazon unveiled its first of twelve major electric platforms from Volvo, aimed at collecting loads from the busy California seaport. The company expands its vehicle electrification from ports to customers, crucial for achieving zero carbon emissions by 2040. Additionally, Telefonica Germany will transfer one million 5G customers to the Amazon Web Services (AWS) cloud, aiming to reduce costs and increase scale. The global cloud telecommunications market is expected to reach $108.7 billion by 2030.

Nextdoor Holdings (NYSE:KIND) – Nextdoor Holdings added Marissa Mayer, former CEO of Yahoo, to the board as part of a leadership overhaul. Tolia, CEO, highlights the new members’ experience in the tech sector. The company faces challenges, with its shares dropping about 80% since 2021.

Instacart (NASDAQ:CART), Uber (NYSE:UBER) – Instacart customers in the U.S. can now order from hundreds of thousands of restaurant partners on Uber Eats through their app. Uber hopes the collaboration will boost business for restaurants and delivery drivers. Instacart Plus subscribers will have free delivery on orders over $35.

Tesla (NASDAQ:TSLA) – Elon Musk proposed testing Tesla’s advanced driver-assistance system in robotaxis in China, aiming to offer shared transportation services. Chinese authorities showed receptiveness but did not immediately approve widespread use of the Full Self-Driving (FSD) functions, according to China Daily.

General Motors (NYSE:GM) – GM plans to capitalize on Tesla’s downsizing, with a GM recruiter contacting former interns dismissed by the electric vehicle manufacturer. GM is eyeing the available talent to integrate into its team, following the trend of hiring former Tesla executives for key roles, such as Kurt Kelty and Jens Peter Clausen.

Royal Caribbean Group (NYSE:RCL) – Royal Caribbean Group is expanding its global workforce to meet the growing demand for cruises. It plans to hire 10,000 workers this year. The company is exploring new markets and has already contacted countries such as the British Virgin Islands, Gambia, and St. Maarten for recruitment.

Ryanair (NASDAQ:RYAAY) – Ryanair lowered its ticket price projections, expecting fares to be up to 5% lower in the U.S. summer due to grounded aircraft and supply chain delays. CEO Michael O’Leary previously predicted a 5% to 10% increase, which did not materialize.

Walmart (NYSE:WMT) – Wall Street eagerly awaits the earnings results from retail giants like Walmart and Target to assess consumer spending habits, with mixed signals of strength and weakness in discretionary spending. Recent earnings from well-known companies such as Starbucks, McDonald’s, and Amazon.com raise concerns about U.S. consumer spending.

Macy’s (NYSE:M) – Guggenheim Partners is in talks with creditors, including private credit firms, to finance a potential acquisition of Macy’s by investment firms Arkhouse Management and Brigade Capital Management for $6.6 billion. The financing could reach up to $1.4 billion in debts, divided into various transactions with different collaterals. Guggenheim is seeking a $650 million loan at the operational level and considering investors for debts secured by Macy’s real estate assets, potentially exceeding $700 million, through the commercial mortgage-backed securities market.

Levi Strauss (NYSE:LEVI) – Levi Strauss concluded a lawsuit against Brunello Cucinelli over alleged infringement of its registered pocket trademark. The settlement, confirmed by Levi, ended the case in Oakland, California. The dispute arose in January, with Levi alleging copies of its tab. The terms of the settlement were not disclosed.

Peloton (NASDAQ:PTON) – Multiple private equity firms are considering acquiring Peloton, as the fitness company seeks to refinance its debt after 13 quarters of losses. Talks with potential investors are ongoing, but no official comment has been made by Peloton.

KKR & Co (NYSE:KKR) – Perpetual Limited (ASX:PPT), an Australian investment fund, announced that KKR & Co plans to acquire its wealth management and corporate funds businesses for $1.43 billion.

Goldman Sachs (NYSE:GS) – Goldman Sachs appointed Robert Kaplan, former president of the Federal Reserve Bank of Dallas, as vice-chairman. He will provide global strategic consulting and collaborate with teams in banking, global markets, and asset management.

Morgan Stanley (NYSE:MS) – Morgan Stanley adjusted its forecast, now predicting that the U.S. Federal Reserve will start reducing interest rates in September, instead of July. The bank maintains its expectation of three 25 basis point cuts throughout the year, noting indicators that suggest imminent disinflation.

JPMorgan Chase (NYSE:JPM) – JPMorgan is restricting its dealings with Segantii Capital Management Ltd., of Simon Sadler, following insider trading allegations in Hong Kong. The measure involves avoiding new trades and additional funding, reflecting global banks’ caution related to the situation.

Mastercard (NYSE:MA) – Several leading U.S. banks are collaborating with Mastercard in a trial of shared ledger technology. The goal is to simplify the settlement of tokenized assets, such as cash and securities, to make transactions faster and safer, potentially revolutionizing the financial sector.

BP plc (NYSE:BP) – BP softened its language about reducing oil and gas production by 2030 to appease investors. CEO Murray Auchincloss focuses on returns, maintaining the 25% reduction target. The company faces pressure to invest more in oil and gas, prioritizing returns over volume.

International Paper (NYSE:IP) – International Paper declined to comment on reports of a takeover offer by Brazilian company Suzano. IP maintains its focus on the planned acquisition of DS Smith Plc. If realized, the potential offer could interfere with the pending transaction.